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SKX

Skechers U.S.A NYSE:SKX Stock Report

Last Price

US$36.47

Market Cap

US$5.5b

7D

-2.4%

1Y

-26.4%

Updated

05 Jul, 2022

Data

Company Financials +
SKX fundamental analysis
Snowflake Score
Valuation6/6
Future Growth3/6
Past Performance5/6
Financial Health5/6
Dividends0/6

SKX Stock Overview

Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide.

Skechers U.S.A Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Skechers U.S.A
Historical stock prices
Current Share PriceUS$36.47
52 Week HighUS$55.87
52 Week LowUS$33.50
Beta1.33
1 Month Change-11.63%
3 Month Change-5.59%
1 Year Change-26.40%
3 Year Change13.76%
5 Year Change30.20%
Change since IPO929.74%

Recent News & Updates

Jul 05
Is Skechers U.S.A (NYSE:SKX) Using Too Much Debt?

Is Skechers U.S.A (NYSE:SKX) Using Too Much Debt?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Jun 18

Skechers: A Long-Term Compounder With Defensive Characteristics

Skechers U.S.A., Inc. is the third largest sports shoe brand in the world that is in value territory now. Skechers has a 73% upside and has the potential to be a long-term growth compounder with its strong DTC and China expansion execution. With a strong value for money proposition, Skechers should also thrive in a recessionary environment and even gain market share from its competitors.

Jun 01
At US$39.40, Is Skechers U.S.A., Inc. (NYSE:SKX) Worth Looking At Closely?

At US$39.40, Is Skechers U.S.A., Inc. (NYSE:SKX) Worth Looking At Closely?

Skechers U.S.A., Inc. ( NYSE:SKX ), might not be a large cap stock, but it saw a double-digit share price rise of over...

May 20

Skechers: Disciplined Growth Makes This A Quality Holding

Skechers’ stock has strong upside based on the company’s large physical store footprint and consistent market share gains. The current valuation of the stock implies profits will permanently fall 20% below current levels. The stock still presents excellent risk/reward and could be worth $70+/share today.

May 17
Here's Why I Think Skechers U.S.A (NYSE:SKX) Might Deserve Your Attention Today

Here's Why I Think Skechers U.S.A (NYSE:SKX) Might Deserve Your Attention Today

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Shareholder Returns

SKXUS LuxuryUS Market
7D-2.4%0.6%0.3%
1Y-26.4%-34.2%-18.4%

Return vs Industry: SKX exceeded the US Luxury industry which returned -36.7% over the past year.

Return vs Market: SKX underperformed the US Market which returned -19.1% over the past year.

Price Volatility

Is SKX's price volatile compared to industry and market?
SKX volatility
SKX Average Weekly Movement6.8%
Luxury Industry Average Movement7.4%
Market Average Movement8.1%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.3%

Stable Share Price: SKX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: SKX's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19928,950Robert Greenberghttps://www.skechers.com

Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

Skechers U.S.A Fundamentals Summary

How do Skechers U.S.A's earnings and revenue compare to its market cap?
SKX fundamental statistics
Market CapUS$5.53b
Earnings (TTM)US$764.15m
Revenue (TTM)US$6.70b

7.2x

P/E Ratio

0.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SKX income statement (TTM)
RevenueUS$6.70b
Cost of RevenueUS$3.43b
Gross ProfitUS$3.26b
Other ExpensesUS$2.50b
EarningsUS$764.15m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)5.04
Gross Margin48.73%
Net Profit Margin11.41%
Debt/Equity Ratio10.2%

How did SKX perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is SKX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SKX?

Other financial metrics that can be useful for relative valuation.

SKX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1x
Enterprise Value/EBITDA9x
PEG Ratio0.5x

Price to Earnings Ratio vs Peers

How does SKX's PE Ratio compare to its peers?

SKX PE Ratio vs Peers
The above table shows the PE ratio for SKX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average18.7x
DECK Deckers Outdoor
15.6x10.4%US$7.0b
SHOO Steven Madden
11x9.2%US$2.7b
CROX Crocs
4.7x7.5%US$3.3b
WWW Wolverine World Wide
43.6x39.3%US$1.7b
SKX Skechers U.S.A
7.2x13.3%US$5.5b

Price-To-Earnings vs Peers: SKX is good value based on its Price-To-Earnings Ratio (7.2x) compared to the peer average (18.7x).


Price to Earnings Ratio vs Industry

How does SKX's PE Ratio compare vs other companies in the US Luxury Industry?

Price-To-Earnings vs Industry: SKX is good value based on its Price-To-Earnings Ratio (7.2x) compared to the US Luxury industry average (9.3x)


Price to Earnings Ratio vs Fair Ratio

What is SKX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SKX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.2x
Fair PE Ratio14.7x

Price-To-Earnings vs Fair Ratio: SKX is good value based on its Price-To-Earnings Ratio (7.2x) compared to the estimated Fair Price-To-Earnings Ratio (14.7x).


Share Price vs Fair Value

What is the Fair Price of SKX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SKX ($36.47) is trading below our estimate of fair value ($86.17)

Significantly Below Fair Value: SKX is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: SKX is good value based on its PEG Ratio (0.5x)


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Future Growth

How is Skechers U.S.A forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


13.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SKX's forecast earnings growth (13.3% per year) is above the savings rate (1.9%).

Earnings vs Market: SKX's earnings (13.3% per year) are forecast to grow faster than the US market (12.8% per year).

High Growth Earnings: SKX's earnings are forecast to grow, but not significantly.

Revenue vs Market: SKX's revenue (9% per year) is forecast to grow faster than the US market (7.8% per year).

High Growth Revenue: SKX's revenue (9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SKX's Return on Equity is forecast to be low in 3 years time (14.2%).


Discover growth companies

Past Performance

How has Skechers U.S.A performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


19.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SKX has a high level of non-cash earnings.

Growing Profit Margin: SKX's current net profit margins (11.4%) are higher than last year (3.1%).


Past Earnings Growth Analysis

Earnings Trend: SKX's earnings have grown by 19% per year over the past 5 years.

Accelerating Growth: SKX's earnings growth over the past year (416.2%) exceeds its 5-year average (19% per year).

Earnings vs Industry: SKX earnings growth over the past year (416.2%) exceeded the Luxury industry 88.3%.


Return on Equity

High ROE: SKX's Return on Equity (22.8%) is considered high.


Discover strong past performing companies

Financial Health

How is Skechers U.S.A's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SKX's short term assets ($3.4B) exceed its short term liabilities ($1.4B).

Long Term Liabilities: SKX's short term assets ($3.4B) exceed its long term liabilities ($1.5B).


Debt to Equity History and Analysis

Debt Level: SKX has more cash than its total debt.

Reducing Debt: SKX's debt to equity ratio has increased from 4.3% to 10.2% over the past 5 years.

Debt Coverage: SKX's debt is well covered by operating cash flow (24.4%).

Interest Coverage: SKX's interest payments on its debt are well covered by EBIT (47.1x coverage).


Balance Sheet


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Dividend

What is Skechers U.S.A current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.56%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate SKX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SKX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SKX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SKX's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as SKX has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

22.3yrs

Average management tenure


CEO

Robert Greenberg (82 yo)

30.5yrs

Tenure

US$23,977,314

Compensation

Mr. Robert Y. Greenberg has been the Chairman and Chief Executive Officer of Skechers USA Inc. since October 1993. Mr. Greenberg founded Skechers USA Inc. in 1992. From 1979 to 1992, Mr. Greenberg served a...


CEO Compensation Analysis

Compensation vs Market: Robert's total compensation ($USD23.98M) is above average for companies of similar size in the US market ($USD8.36M).

Compensation vs Earnings: Robert's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: SKX's management team is seasoned and experienced (22.3 years average tenure).


Board Members

Experienced Board: SKX's board of directors are seasoned and experienced ( 19.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SKX insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Skechers U.S.A., Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Skechers U.S.A., Inc.
  • Ticker: SKX
  • Exchange: NYSE
  • Founded: 1992
  • Industry: Footwear
  • Sector: Consumer Durables
  • Implied Market Cap: US$5.531b
  • Shares outstanding: 151.65m
  • Website: https://www.skechers.com

Number of Employees


Location

  • Skechers U.S.A., Inc.
  • 228 Manhattan Beach Boulevard
  • Manhattan Beach
  • California
  • 90266
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/05 00:00
End of Day Share Price2022/07/05 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.